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After Coinbase managed to become one of the largest cryptocurrency wallets and exchanges in the world, now, the company is expanding rapidly with new products.

First, Coinbase introduced Ethereum Classic, in addition to its other “products”, like Bitcoin and Ethereum. Now, the company has introduced the Coinbase Index Fund.

Coinbase, in addition to servicing over 10 million users around the world, also owns GDAX. GDAX is by far the largest cryptocurrency exchange in the United States as of now. Coinbase Index Fund tracks the Coinbase Index through a weighted-average method.

According to the factsheet of the Fund, the inception date was May 1st, 2018, although Coinbase has been working on it for quite some time. In addition, the minimum investment that any investor willing to “hop in” is $250,000. Also, the investment in the Fund is open only to US accredited investors, and the management fee amounts to 2%, with no performance fee.

The Fund will be managed through a weighted average method, meaning that the Fund will track the underlying Index by weighting the digital assets by their current market value.

According to the website, the Index is currently comprised of Bitcoin (61.49%), Ethereum (27.19%), Bitcoin Cash (8.27%) and Litecoin (3.05%). However, the Index will be rebalanced once the Ethereum Classic coin is added, so there will be a new weight-in after the addition.

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